Word: foreign
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Dates: during 1960-1969
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...events of Nov. 22, 1963, and June 5, 1968, as if to exorcise a demon from the national spirit. No fewer than nine new books were on the market in the U.S. eulogizing John or Robert Kennedy, or probing their assassinations. In Russia, Anatoly Gromyko, son of Soviet Foreign Minister Andrei Gromyko, published a mildly sympathetic study on J.F.K.-the first book-length examination of any kind to be printed in the Soviet Union-entitled The 1036 Days of President Kennedy, borrowing heavily from Arthur Schlesinger and Theodore Sorensen, but mostly picturing the late President in a struggle with "monopoly...
...factor that still remains out of balance-and has significantly contributed to the fiscal problems of Britain and France-is the foreign-trade account. As in 1967, the Germans will record a trade surplus of more than $4 billion this year. Increased domestic consumption hardly makes up for that, and Schiller's solution has been the encouragement of investment abroad-some $2.5 billion...
...foresee. There is always the possibility that the measures he is taking in lieu of devaluation may somehow succeed in stopping the run on the franc. France, after all, is in a far stronger position than Britain was when it devalued last year. Britain's gold and foreign-currency reserves had dwindled to a dangerously low level. France, despite the recent heavy losses, still has $4.1 billion in gold and reserves, and in addition to that the $2 billion credits made available in Bonn by the Ten and nearly another $1 billion open to it in Basel...
...currency. Under that arrangement, then and today, other nations value their money in terms of the U.S. dollar, which is itself valued in terms of gold. The dollar's acceptability in world finance rests on the U.S. Treasury's pledge to redeem dollars held by foreign governments for gold at an unchanging...
...upon its 111 member nations, is a proviso that no country may devalue its currency without IMF permission. In practice, the IMF allows devaluation only when economic misfortune (almost always inflation) strips a currency of its hitherto established value. Barring devaluation, every IMF nation must buy, sell or borrow foreign currencies-in practical terms, dollars-in sufficient quantity to keep its own money within 1% of its declared worth...